Poppy Gustafsson will step down as CEO of Darktrace plc with effect from today.
Jill Popelka, current COO, has been appointed as her successor at the helm of the cybersecurity AI leader and will join the board from today.
The Cambridge-headquartered firm is awaiting regulatory approval for a £4.3 billion takeover by US private equity house Thoma Bravo.
“Darktrace has been a huge part of my life and my identity for over a decade and I am immensely proud of everything we have achieved in that time,” said Gustafsson, who will reportedly net £24 million personally through the deal.
“Together we have revolutionised the marketplace for cybersecurity and brought our AI-powered technology to almost 10,000 customers around the world, keeping them safe from cyber disruption.
“This challenge has required tremendous personal and professional commitment from me. With the acquisition of Darktrace by Thoma Bravo nearing its completion and with us having identified an excellent successor in Jill, now is the right time to hand over the reins so Jill can lead Darktrace through its transition into private ownership and beyond.
“I am profoundly grateful to have had the privilege of leading such an exceptional team and I look forward to remaining engaged in this exciting next chapter of the business as a non-executive director after the transaction completes. I remain Darktrace’s number one fan.”
Popelka previously held senior leadership roles at leading global technology businesses, including Accenture, Snap Inc and SAP SuccessFactors, one of the largest enterprise cloud businesses in the world, which she led as president.
She joined Darktrace in January 2024 as a non-executive director before assuming her current role of COO at the start of June.
“Poppy and the team have built something very special,” she said. “The potential of Darktrace is enormous – our technology has never been more critical to organisations around the world and our AI-native capabilities position us at the forefront of the ever-changing cybersecurity market.
“We have an outstanding platform offering, a broad base of customers across the globe, and some of the most talented people working in technology, not least our remarkable R&D teams based in Cambridge and The Hague.
“I am excited to partner with the whole Darktrace team to take advantage of the many opportunities we have ahead of us as we embark on this next phase of our journey.”
Gordon Hurst, chairman of Darktrace, said: “Poppy is a remarkable leader who has grown and nurtured one of the UK’s proudest technology success stories.
“Under Poppy’s stewardship, the business has transformed from a promising collaboration of AI and intelligence experts to a high-growth global leader in cybersecurity.
“This has been reflected in the significant value Darktrace has created for its shareholders under Poppy’s leadership since its IPO in 2021 and through the acquisition by Thoma Bravo, one of the world’s leading investors in software businesses.”
Andrew Almeida, Partner at Thoma Bravo, said: “We are fully supportive of Poppy and the board’s succession plan.”
Late tech tycoon Mike Lynch, who died in the recent Bayesian yacht tragedy after he was cleared of fraud charges in the US, was a shareholder in Darktrace.